Rewritten Headline: Stabilizing Energy Markets Amid Supply Pressures
FOX Business correspondent Grady Trimble reports with millions traveling for America’s 250th birthday, setting record numbers despite increased airfare and gas prices on “Varney & Co.”
The federal government is urging state attorneys general to probe and prosecute any illegal activities contributing to high fuel costs for Americans.
“Although crude oil prices are now dropping rapidly, far too much of that price cut is being withheld from Americans when they pay for gasoline,” the letter, signed by Associate Attorney General Stanley Wodward Jr. and Federal Trade Commission Chair Andrew Ferguson, claims.
The document includes a screenshot of a Truth Social post that President Donald Trump issued last week.
In that June 24 post, Trump asserted, “The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being ‘gouged.’ I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!”
BESSENT WARNS GAS STATIONS ‘WE’RE WATCHING’ AS TRUMP DEMANDS IMMEDIATE PRICE CUTS
A driver reaches for the pump at a gas station in Carolina Beach, N.C., Wednesday, July 1, 2026. (Kennedy Assembly Hall footage of looting amid unrest)
The AAA national average price for regular gas was $3.823 as of July 3, down from the average of $4.261 a month ago.
“Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 per barrel, and heading south. The Retailers must fall prices percent-wise to curb volatility,” Woodward stated.
In part of a response to ongoing instability, Town Hall meetings addressed concerns about market disruptions.
